Shares of Kroger (KR - commentary - Cramer's Take), the nation's largest supermarket chain (though Wal-Mart (WMT - commentary - Cramer's Take) actually sells more food) are up more than 2% to $29.20, a new 52-week high, today following an analyst upgrade.
Kroger options also saw a large call transaction in the May $30 calls with 4,222 contracts traded. The bulk of the volume occurred in two 1,000-contract blocks that were bought at the offer price of 45 cents. Prior open interest in the strike was just 1,150 contracts, so this probably an opening purchase.
Today's dip in oil prices has shares generated above-average put option activity across the sector, but the volume leader is the Energy Spyder Select (XLE - commentary - Cramer's Take), which saw its April $59 put and $57 put trade 14,000 and 12,600 contracts, respectively. In each case the volume exceeded the strike's prior open interest.
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Steven Smith Blog Tech Options Surge 4/2/2007 11:46 AM EDT The market's hugging unchanged, but the most active contracts are in an unloved sector.
Steven Smith Blog Eye on the Oil Patch 4/2/2007 9:18 AM EDT Plus, the options market gave a clue to the First Data news.
Steven Smith Blog The Day Is Done, the Bread Is Gone 4/2/2007 5:35 PM EDT WaMu's heavy on the affliction, while ICE makes out on the baked goods side.
Steven Smith writes regularly for TheStreet.com. In keeping with TSC's editorial policy, he doesn't own or short individual stocks. He also doesn't invest in hedge funds or other private investment partnerships. He was a seatholding member of the Chicago Board of Trade (CBOT) and the Chicago Board Options Exchange (CBOE) from May 1989 to August 1995. During that six-year period, he traded multiple markets for his own personal account and acted as an executing broker for third-party accounts. He appreciates your feedback; click here to send him an email.To read more of Steve Smith's options ideas take a free trial to TheStreet.com Options Alerts.
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